Dreadnought Resources Limited (DRDNF) Exceptional Niobium Intercepts at the Stinger Discovery - Mangaroon

Dreadnought Resources Limited (ASX:DRE) (OTCMKTS:DRDNF) is pleased to announce results from recent drilling at the Gifford Creek Carbonatite, part of the 100% owned Mangaroon Nb-REE project, located in the Gascoyne Region of Western Australia.

Dreadnought's Managing Director, Dean Tuck, commented: "The Gifford Creek Carbonatite has delivered the thickest and highest-grade intercepts to date. All this in a Tier 1 jurisdiction with ready access to infrastructure including sealed roads, ports, regional workforces and airports. We continue to see the potential for Mangaroon to evolve as a multicommodity critical metals hub with ready access to existing infrastructure."

HIGHLIGHTS

- Assays have been received for a 9 RC hole (1,508m) program in the Gifford Creek Carbonatite. These holes tested the Stinger Zone for oxide and fresh mineralisation and all holes intersected niobium including:

CBRC195: 130m @ 0.7% Nb2O5 from 71m, including:
39m @ 1.3% Nb2O5 from 84m including 4m @ 2.0% Nb2O5 from 86m
CBRC200: 95m @ 0.9% Nb2O5 from 48m, including
20m @ 1.4% Nb2O5 from 102m and 8m @ 1.7% Nb2O5 from 72m
CBRC194: 122m @ 0.6% Nb2O5 from 71m, including 26m @ 1.1% Nb2O5 from 99m
CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m
CBRC193: 57m @ 0.9% Nb2O5 from 51m, including 10m @ 1.2% Nb2O5 from 72m
CBRC196: 24m @ 0.7% Nb2O5 from 81m, including 8m @ 1.3% Nb2O5 from 81m
CBRC197: 28m @ 0.8% Nb2O5 from 66m, including 14m @ 1.0% Nb2O5 from 71m
- These are in addition to the first pass drilling which intersected:

*CBRC176: 50m @ 0.9% Nb2O5 from 49m, including 20m @ 1.3% Nb2O5 from 56m
*CBRC174: 38m @ 0.5% Nb2O5 from 58m, including 6m @ 1.2% Nb2O5 from 60m
*CBRC175: 66m @ 0.4% Nb2O5 from 52m, with 15m @ 15.0% P2O5 from 103m
*CBRC189: 24m @ 0.6% Nb2O5 from 39m, including 6m @ 1.0% Nb2O5 from 48m

- The results confirm oxide and fresh bedrock niobium mineralisation at Stinger over ~1.2km of strike which remains open in all directions.

Overview of Drilling Program: Nb-REE Gifford Creek Carbonatite

The Gifford Creek Carbonatite and the Yin Ironstones together form one of the largest alkali-carbonatite complexes in the world (Figure 2*). Carbonatite intrusions are known globally to host several different commodities including rare earths, niobium, phosphate, titanium and scandium, often as separate deposits within the same intrusion. Examples of this include Mt Weld in Australia, Ngualla in Tanzania, Araxa in Brazil and Bayan Obo in China.

Since the initial discovery of the Yin Ironstones and the Gifford Creek Carbonatite in 2021, Dreadnought's focus has been on rare earths. To date only ~25% of the Gifford Creek Carbonatite has been tested and then only with wide spaced first pass drilling. Importantly, 3 zones of mineralisation have been confirmed (C3, Stinger and Rocky Road) with significant niobium intercepts in the Stinger Zone, including:

CBRC176: 50m @ 0.9% Nb2O5 from 49m, including 20m @ 1.3% Nb2O5 from 56m
CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m
CBRC111: 48m @ 0.7% Nb2O5 from 63m, including 9m @ 1.4% Nb2O5 from 72m
CBRC125: 59m @ 0.6% Nb2O5 from 63m, including 19m @ 1.0% Nb2O5 from 99m
CBRC138: 57m @ 0.6% Nb2O5 from 45m, including 3m @ 1.4% Nb2O5 from 90m

Recent mineralogical work has confirmed the presence of coarse grained (>0.30mm) pyrochlore niobium from both weathered and fresh carbonatite. Pyrochlore niobium is commercially viable and accounts for ~95% of global niobium production. Additional mineralogical work is ongoing with results expected in December 2024.

Recent drilling comprised 9 RC holes (1,508m) which were niobium focused and designed to:

- Test for extensions of the Stinger oxide zone which contains thick intervals of niobium; and

- Confirm the fresh rock source of the oxide mineralisation; and

- Provide further material for mineralogical and metallurgical characterisation.

The program sought to confirm fresh mineralisation and extend oxide enriched mineralisation at Stinger. Stinger is defined by niobium enrichment over an area of ~2,000m x 350m. Fresh niobium mineralisation is interpreted to be hosted in a dyke like geometry with a southwest dip within the Gifford Creek Carbonatite, which has now been confirmed over ~1.2km in strike.

Assays have been received for the 9 RC holes and all holes returned significant mineralisation, including the 4 thickest and highest-grade intercepts to date. Intercepts include:

CBRC195: 130m @ 0.7% Nb2O5 from 71m, including:
39m @ 1.3% Nb2O5 from 84m including 4m @ 2.0% Nb2O5 from 86m
CBRC200: 95m @ 0.9% Nb2O5 from 48m, including
20m @ 1.4% Nb2O5 from 102m and 8m @ 1.7% Nb2O5 from 72m
CBRC194: 122m @ 0.7% Nb2O5 from 71m, including 26m @ 1.1% Nb2O5 from 99m
CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m
CBRC193: 57m @ 0.9% Nb2O5 from 51m, including 10m @ 1.2% Nb2O5 from 72m
CBRC196: 24m @ 0.7% Nb2O5 from 81m, including 8m @ 1.3% Nb2O5 from 81m
CBRC197: 28m @ 0.8% Nb2O5 from 66m, including 14m @ 1.0% Nb2O5 from 71m

This program has confirmed fresh mineralisation over ~1.2km of strike which remains open in all directions.
Next steps include wide spaced fenceline drilling across the Stinger Zone to better constrain the oxide and fresh boundaries.

This work will also collect material for mineralogical and metallurgical assessment.

The program was supported by a co-funded drilling grant of up to $180,000 under the Geological Survey of Western Australia's merit-based Exploration Incentive Scheme ("EIS") and a drill-for-equity agreement with Topdrill Pty Ltd.

Significant Infrastructure Advantages:

The Gifford Creek Carbonatite is part of the 100% owned Mangaroon Nb-REE project, located in the Gascoyne Region of Western Australia - a Tier 1 jurisdiction.

This area enjoys a strong competitive advantage over many other projects with ready access to existing infrastructure including:

- Sealed roads: ~200kms from the Northwest Coastal Highway

- ~400km from the Port of Onslow, ~600kms from the Port of Dampier, ~700 kms from Port of Geraldton.

- Regional suppliers/workforces: at Carnarvon, Exmouth, Karratha, Onslow and Newman

- Airports: at Exmouth, Carnarvon and Yangibana.

SNAPSHOT - MANGAROON CRITICAL MINERALS

Mangaroon is 100% Owned

- 100% owned Mangaroon confirmed as a globally significant critical minerals complex with proven potential for niobium (Nb), rare earths (REE), scandium (Sc), titanium (Ti) and phosphorous (P).

Genuine Scale Potential for Niobium and other Critical Minerals

- Three zones of thick oxide niobium mineralisation confirmed to date with significant intercepts including:

CBRC195: 130m @ 0.7% Nb2O5 from 71m, including 39m @ 1.3% Nb2O5 from 84m (Stinger)
CBRC176: 50m @ 0.9% Nb2O5 from 49m, including 20m @ 1.3% Nb2O5 from 56m (Stinger)
CBRC194: 122m @ 0.7% Nb2O5 from 71m, including 26m @ 1.1% Nb2O5 from 99m (Stinger)
CBRC201: 98m @ 0.7% Nb2O5 from 54m, including 41m @ 1.1% Nb2O5 from 85m (Stinger)
CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m (C3)
CBRC125: 59m @ 0.6% Nb2O5 from 63m, including 19m @ 1.0% Nb2O5 from 99m (C3)

- Fresh niobium mineralisation has been confirmed over 1.2 km strike, open in all directions at the Stinger Zone providing significant upside tonnage potential.

Multiple Critical Minerals Potential at the Gifford Creek Carbonatite

- The Gifford Creek Carbonatite and associated ironstones is one of the largest carbonatite complexes in the world.

- Wide spaced drilling over <25% of the ~17km long Gifford Creek Carbonatite has already identified 3 zones of mineralisation containing Nb-REE-Sc-Ti-P. This makes for a critical mineral mix of co-products with significant intercepts including:

CBRC115: 102m @ 1.1% TREO from 3m, including 29m @ 2.1% TREO from 76m
CBRC148: 43m @ 11.9% P2O5 from 87m, including 24m @ 14.5% P2O5 from 105m to EOH
CBRC138: 12m @ 319ppm Sc from 48m and CBRC125: 10m @ 270ppm Sc from 18m
CBRC086: 72m @ 8.6% TiO2 from 12m, including 6m @ 12.8% TiO2 from 66m

Positive Mineralogical Results

- Recent mineralogical work at the Gifford Creek Carbonatite has confirmed the presence of pyrochlore, which is a high niobium mineral (>50%) which is commercially viable and from which ~95% of global niobium is produced.

Global Strategic Imperative Driving Critical Minerals Growth

- Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension.

- Niobium is a critical mineral primarily used in high strength, low alloy steel with application to renewables, infrastructure and vehicles. The addition of a small amount of niobium increases the strength of steel whilst decreasing weight by ~30%.

- Niobium-based technology breakthroughs are being experienced in the battery sector where niobium is reducing electric vehicle charge times to ~5 minutes.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/28675238

Dean Tuck
Managing Director
E: dtuck@dreres.com.au

Jessamyn Lyons
Company Secretary
E: jlyons@dreres.com.au

News Provided by ABN Newswire